Director Training and Continuing Education Program
To execute their roles well, training on Corporate Governance (CG) is given to directors prior to assuming office. This is also institutionalized in our MCG and the Charter of the Board. The Board, together with the key officers, also actively attend training programs annually to keep abreast of updates in CG standards and relevant discussions to support their leadership roles in Globe Telecom that cover issues and relevant market trends, new laws, and regulations that can affect the business, sustainability, and CG, among others.
In 2018, all members of the Audit and RPT Committee attended a training program dedicated to the Committee’s scope of responsibilities on April 16. Among discussions and topics included in the training were an update on the new accounting standards that included, among others, the International Financial Reporting Standards (IFRS) 15 and its impact to Globe.
The directors and key officers attended various CG seminars conducted by SEC-accredited CG training providers throughout 2018. On September 10, members of the Board and some key officers attended the CG and Risk Management Summit conducted by the Ayala Group in collaboration with the Institute of Corporate Directors (ICD). The Summit included advanced CG training on the role of CG policies and practices in accelerating business growth, adapting to evolving ways of doing business, and the role of the board in ensuring good CG. Events, collaborations, and partnerships such as this, within the conglomerate, manifest the stronghold of CG in the business’ governance framework.
Our new director attended a CG Orientation Program by the ICD on June 6. Meanwhile, an in-house CG seminar was completed by other key officers that was conducted by Risks, Opportunities, Assessment, and Management (ROAM) on October 22. The seminar included discussions on SEC and other CG-related regulatory updates, CG trends for the year, and a review and analysis of significant CG cases. On December 14, a Globe key officer also attended a Masters class on enhancing audit committee effectiveness that was conducted by the ICD.
The attendance of our Board and key officers to the CG training programs and seminars are included in our integrated annual CG report or the Integrated Annual Corporate Governance Report (i-ACGR) and posted on our website. All training programs and seminars attended by the directors and key officers fulfill the compliance with the SEC directive for all key officers and members of the Board of publicly-listed companies to attend a program on CG at least annually.